Nazara Technologies Limited informs the Exchange regarding Outcome of Board Meeting held on March 30, 2026.
NAZARA · price
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Nazara Technologies' board, at its March 30, 2026 meeting, approved issuing up to 1.92 crore convertible warrants to 5 identified investors on a preferential basis at INR 260 per warrant (face value INR 2, premium INR 258), aggregating up to roughly INR 500 Crores. Each warrant is convertible into 1 equity share within 18 months of allotment; unconverted warrants will lapse and the upfront amount will be forfeited. Riambel Capital PCC-RCC1 is the largest allottee at ~94.85 lakh warrants (existing investor, holdings to rise from 1.72% to 4.06%), with four new investors — S Gupta Family Investments, Plutus Investments, Classic Enterprises, and Founders Collective Fund — taking the rest, pushing combined post-issue holding of these investors to 6.57% assuming full conversion. The board also approved an unsecured loan of up to INR 4 Crores to wholly-owned subsidiary Smaaash Entertainment, and fixed an EGM on April 30, 2026 to seek shareholder approval for the warrant issue.
This is a sizeable fundraise of around INR 500 Crores that will lead to dilution of existing shareholders by about 4.85% on a fully converted basis, while bringing in marquee investors. The cash infusion could support growth, acquisitions, or reduce debt, but the share price may see near-term pressure on announcement due to dilution; shareholders should watch the April 30 EGM outcome for final approval.